EU: Gear Box Market 2024

Gear Box Market Size in the EU

In 2023, after four years of decline, there was significant growth in the EU gear box market, when its value increased by X% to $X. The total consumption indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Gear Box Production in the EU

In value terms, gear box production declined modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2022, and then contracted slightly in the following year.

Gear Box Exports

Exports in the EU

In 2023, overseas shipments of gear boxes increased by X% to X units, rising for the third consecutive year after three years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The volume of export peaked in 2023 and is expected to retain growth in the near future.

In value terms, gear box exports amounted to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in years to come.

Exports by Country

Germany represented the major exporting country with an export of about X units, which amounted to X% of total exports. France (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Romania (X%), Italy (X%), the Netherlands (X%) and Hungary (X%). Sweden (X units), Poland (X units), Spain (X units), the Czech Republic (X units), Austria (X units), Slovakia (X units) and Belgium (X units) held a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to gear box exports from Germany stood at X%. At the same time, the Netherlands (X%), Romania (X%), Hungary (X%), Belgium (X%), Slovakia (X%), the Czech Republic (X%), Sweden (X%), Austria (X%) and Italy (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2023. Spain and France experienced a relatively flat trend pattern. By contrast, Poland (X%) illustrated a downward trend over the same period. While the share of Romania (X p.p.), the Netherlands (X p.p.) and Hungary (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Spain (X p.p.), Poland (X p.p.) and France (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest gear box supplier in the European Union, comprising X% of total exports. The second position in the ranking was taken by Romania ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Germany amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Romania (X% per year) and France (X% per year).

Export Prices by Country

The export price in the European Union stood at $X per unit in 2023, with an increase of X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Slovakia ($X per unit), while Austria ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other leaders experienced more modest paces of growth.

Gear Box Imports

Imports in the EU

In 2023, supplies from abroad of gear boxes increased by X% to X units, rising for the third year in a row after two years of decline. Total imports indicated a resilient increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by X%. The volume of import peaked in 2023 and is likely to see gradual growth in the immediate term.

In value terms, gear box imports surged to $X in 2023. Total imports indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports reached the maximum in 2023 and are likely to continue growth in years to come.

Imports by Country

In 2023, Germany (X units) was the key importer of gear boxes, creating X% of total imports. Spain (X units) took the second position in the ranking, followed by Slovakia (X units), France (X units), Romania (X units), the Czech Republic (X units), the Netherlands (X units), Hungary (X units), Italy (X units) and Belgium (X units). All these countries together held approx. X% share of total imports.

Imports into Germany increased at an average annual rate of X% from 2012 to 2023. At the same time, Romania (X%), Hungary (X%), the Netherlands (X%), Spain (X%), Italy (X%), the Czech Republic (X%), Slovakia (X%) and Belgium (X%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in the European Union, with a CAGR of X% from 2012-2023. France experienced a relatively flat trend pattern. Romania (X p.p.), Hungary (X p.p.), the Netherlands (X p.p.), Spain (X p.p.) and Italy (X p.p.) significantly strengthened its position in terms of the total imports, while Belgium and France saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported gear boxes in the European Union, comprising X% of total imports. The second position in the ranking was held by Spain ($X), with a X% share of total imports. It was followed by Slovakia, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Germany stood at X%. In the other countries, the average annual rates were as follows: Spain (X% per year) and Slovakia (X% per year).

Import Prices by Country

The import price in the European Union stood at $X per unit in 2023, growing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure in 2023 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Spain ($X per unit), while Belgium ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Romania (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform